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December 20, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Akron, Business Loans > Firstmerit Bank Akron Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
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Firstmerit Bank Small Business Loans
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Firstmerit Bank SBA Loan to Commercial And Industrial Machinery And Equipment CompanyFirstmerit Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Tallmadge, Ohio, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Firstmerit Bank, based in Akron, Ohio. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender FIRSTMERIT BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 12/2/2004 Loan Approval Gross Amount $30,400 Loan Approval from the SBA Of the total $30,400 loan amount, the SBA guaranteed $15,200. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links:
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